Westpac subsidiary Hastings sells international businesses

Company News

by Jessica Ellerm

Westpac Banking Corporation (ASX:WBC) has announced its infrastructure investment subsidiary, Hastings Management, will sell its international businesses in the UK and US to Northill Capital.

Northill Capital is an independent, privately held asset management business, with a long term strategy of building a portfolio of high quality, specialist asset management businesses.

The terms of the deal have not been disclosed.

Westpac has confirmed that the Hastings Australian business will continue to fulfill its contractual obligations to all clients.

Shares in Westpac Banking Corporation (ASX:WBC) closed 0.19 per cent lower yesterday at $31.44.


Jessica Ellerm

Finance News Network
Jessica joined FNN in April 2016 and presents the Australian Share Market Outlook, and reports on the morning's leading business stories. Alongside FNN Jessica is a fintech industry commentator, writing for her own blog and a number of international online publications.